Infratil Limited today announced that following the successful Exchange Offer for its offer of 6 year unsecured, unsubordinated, fixed rate infrastructure bonds that mature on 13 December 2030 (New Bonds) it has allocated $46,664,000 of New Bonds. The Exchange Offer has now closed.

Combined with the Firm Offer issuance of $75,000,000 this takes the total Issue Amount to $121,664,000.

A copy of the Final Terms Sheet for the New Bonds is attached.

Arranger and Joint Lead Manager:

Bank of New Zealand

Joint Lead Managers:

Craigs Investment Partners Limited

Forsyth Barr Limited

Tom Robertson

Infratil Treasurer

Phone: +64 4 550 5432

Email: tom.robertson@infratil.com

Authorised for release by:

Brendan Kevany

Infratil Company Secretary